Hutchinson Island Mid-Year Market Report
RECENTLY SOLD
SOLD $715,000
4160 N A1A #1306
SOLD $433,000
1562 Island Cove Road
SOLD $375,000
11390 Bayshore Drive
SOLD $335,000
2416 Atlantic Beach Blvd
SOLD $515,000
3024 Windward Drive #1206
SOLD $380,000
1920 Rio Vista Drive
SOLD $360,000
2416 Harbour Cove Drive
SOLD $325,000
30 Harbour Drive West
www.FLColdwellBanker.com
SOLD $475,000
1016 Windward Drive
SOLD $375,000
1390 Bayshore Drive
SOLD $360,000
2400 S Ocean Drive #8153
Homes are selling fast! Call to see how much your home is worth! 772-464-7007 or 772-461-1324
S. HUTCHINSON ISLAND OFFICE 221 Ocean Drive Fort Pierce, FL 34949 N. HUTCHINSON ISLAND OFFICE 4007 Hwy. A1A Fort Pierce, FL 34949
www.FLColdwellBanker.com
2018 Hutchinson Island Mid-Year
MARKET REPORT
Price Point
Year
Homes Sold
Current Listings
Month’s Supply
Average Price
Condos Sold
Current Listings
Month’s Supply
Average Price
Under
2018
5
4
4.8
$183,820
89
65
4.4
$190,328
$250,000
2017
7
0
0.0
$221,429
100
58
3.5
$187,382
Change
-28.6%
N/A
N/A
-17%
-11%
+12.1%
+25.9%
+2%
$250,001 to
2018
25
13
3.1
$338,920
72
97
8.1
$328,092
$500,000
2017
24
15
3.8
$364,497
65
73
6.7
$318,680
Change
+4.25%
-13.3%
-16.8%
-7%
10.8%
32.9%
20.0%
3%
$500,001 to
2018
9
12
8
$633,000
15
39
15.6
$701,600
$1,000,000
2017
10
25
15
$704,020
6
22
22.0
$606,917
Change
-10%
-52%
-46.7%
-10%
150.0%
77.3%
-29.1%
16%
Over
2018
6
7
7.0
$2,128,667
0
1
N/A
-
$1,000,000
2017
3
11
22.0
$1,876,667
0
3
N/A
-
Change
100.0%
-36.4%
-68.2%
13%
N/A
-66.7%
N/A
N/A
2018
45
36
4.8
$619,135.60
176
202
6.9
$290,260.32
2017
44
51
7.0
$522,003
171
156
5.5
$252,011.12
Change
+2.3%
-29.4%
-31.0%
+19%
+2.9%
+29.5%
+25.8%
+15%
Total
The luxury home market was the big story in real estate in the first half of 2018 in Hutchinson Island. The Hutchinson Island market is dominated by condominiums, and that market remains strong. The average price of condominiums rose by 15%. The key driver of this increase was in luxury units over $500,000, which saw a 150% increase in sales. Condominiums below $500,000 rose a moderate 3% in average price. The single family sales below $1 million were also sluggish. Average prices in each market segment declined by a value driven buyer looking for a good deal. However, increasing
sales in the over $1 million market pushed up the overall average sale price. This is not a market as driven by interest rates, but is value driven. Price increases will continue, but at a modest pace. With new construction growing the luxury inventory on the island, expect this to continue to be the exciting news on Hutchinsion Island. If you would like to find the right price for your home in today’s changing market, contact us at 772-464-7007 or 772-461-1324. With eleven offices covering 135 miles of Florida’s East Coast, Coldwell Banker Paradise is the largest full service real estate company in the area.